Polygon, an Ethereum scaling platform, has raised $450 million in a funding round led by Sequoia Capital India, which also featured investment from venture capital firms like Softbank Vision Fund 2, Galaxy Digital, and Tiger Global. “Web3 builds on the early Internet’s open-source ideals, enabling users to create value, control the network and reap the rewards. Ethereum, scaled by Polygon,…
The crypto economy has jumped back above the $2 trillion mark after falling below that value in mid-January. Statistics indicate that the USD value of all 12,440 coins across 544 crypto exchanges is worth $2.08 trillion, up 5.2% during the last 24 hours. Crypto Economy Moves Northbound Past the $2 Trillion Mark Digital currency values have increased a great deal…
Martin J. Gruenberg, the acting chairman of the Federal Deposit Insurance Corporation, or FDIC, named “crypto-assets” among the agency’s key priorities in 2022, alongside addressing financial risks associated with climate change and promoting amendments to major federal statutes relevant to FDIC’s jurisdiction. A Feb. 7 statement outlines five key areas that the agency deems most important for its mission of…
In brief CryptoPunks is an Ethereum-based NFT project from 2017, making it one of the earliest examples of crypto collectibles. Prices skyrocketed as the wider NFT market expanded in 2021, leading to numerous sales in excess of $1 million each. The market for crypto collectibles released as non-fungible tokens (NFTs) exploded in 2021, with $2.5 billion in transaction volume in…
On February 4, news emerged that Russian President Vladimir Putin had issued a letter to the people of China, published by a local news agency, that detailed ongoing trade between the two countries and mutually-beneficial infrastructure projects. Chinese President Xi Jinping and Russian President Vladimir Putin also met in Beijing ahead of the opening of the 2022 Winter Olympics, hosted…
2021 was a year of rapid growth for the digital asset industry. January 2022 however, saw a broad market sell-off and underwhelming performance, with DeFi tokens ending the month down between -4% and -79%. Despite market weakness early this year, the NFT and GameFi industries have picked up momentum in January with unlikely players entering the space. Kraken Intelligence’s latest…
Elon Musk’s electric vehicle maker Tesla was holding about $2 billion worth of Bitcoin (BTC) by the end of 2021, according to official records. The “fair market value” of BTC held by Tesla as of Dec. 31, 2021, was $1.99 billion, the company said on Friday in its annual filing with the United States Securities and Exchange Commission. The filing…
A group of cryptocurrency companies, including stablecoin provider Circle, Anchorage Digital, and crypto exchange Huobi Global has launched a coalition to crack down on crypto market manipulation, per Reuters. The coalition, dubbed the “Crypto Market Integrity Coalition,” is calling for crypto companies to sign a pledge of “market integrity.” The point of this pledge is to recognize the potential for…
Over the last 30 days, Bitcoin’s hashrate has been coasting along at the highest levels ever recorded during the network’s lifetime. Bitcoin’s price improved recently but it is still down 38% from the crypto asset’s high, making bitcoin less profitable to mine. However, bitcoin mining is still profitable, in contrast to ten years ago, when the leading crypto asset’s value…
Zero-knowledge applications platform Aleo has raised $200 million in a solid investment round, pushing the company forward and supporting its goals to develop products and services that encourage and assist developers in building applications on top of its decentralized network. The Series B investment round was led by Kora Management LP and SoftBank Vision Fund 2, which invest in fintech…
